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"DC Open Doors" pays your Down Payment for you on a home purchase in DC. The money does not have to be paid back. You must have:
  • Less than $125,580/year in income
  • Have fair to good credit (660+)
UrbanLand Company Agents have over $38 million in successful $0 Down and low down payment home sales. Set Appointment $0 Down Loan Estimate Or, get to know us in our Free Home Buyer Workshops
The Virginia Housing Development Authority (VHDA) pays your Down Payment when you meet certain criteria. The money does not have to be paid back. You must have:
  • Less than $97,520/year in income (1-2 person households)
  • Less than $113,840/year in income (3+ persons)
UrbanLand Company Agents have over $38 million in successful $0 Down and low down payment home sales. Set Appointment $0 Down Loan Estimate Or, get to know us in our Free Home Buyer Workshops
The Maryland Mortgage Program loans you up to $8,500 in Down Payment Assistance. There's additional incentives from specific Maryland employers + great student loan incentive programs.
  • Incomes lower than $88,400 for 1-2 person households are eligible
  • Incomes between $88,400 & $128,760 may be eligible, based on county
UrbanLand Company Agents have over $38 million in successful $0 Down and low down payment home sales. Set Appointment $0 Down Loan Estimate Or, get to know us in our Free Home Buyer Workshops
 

Real Estate

PGCAR’s Official Announcement Re: Triple Play & It’s Conversion to the New Double Play Program


In case you missed it:
Groundbreaking Mortgage Initiative for Homebuyers in Prince George’s County Fully Utilized in Less Than Four Months
Homebuyers in County Still Eligible for Significant Rate Reduction
and Up to $2,000 Federal Tax Credit

Crownsville, MD – DHCD announced today (3/4) that the funds set aside to provide down payment assistance under the Maryland Mortgage Program Triple Play Initiative in Prince George’s County have been utilized.

 

“The success of the MMP TriplePlay Initiative illustrates the economic impact of a well-designed homeownership program that meets the needs of today’s homebuyer,” said DHCD Secretary-designate Kenneth C. Holt.

“The homebuyer market is more diverse than in the past and increasingly consists of members of the Millennium Generation,” Secretary Holt continued. “The Hogan-Rutherford administration is committed to pursuing innovative programs such as MMP TriplePlay that help those families earn a piece of the American dream.”

The initiative was the result of a unique partnership between the Maryland Department of Housing and Community Development, Prince George’s County and the Office of the Attorney General. Working together, the partners recognized homeownership as the most effective use of a portion of the $10 million that was set aside for Prince George’s County as part of the landmark Mortgage Servicing Settlement between the nation’s attorneys general and the five largest lenders. The support of the Prince George’s County Association of REALTORS® played an important role in the success of the effort, Holt said.

Through the MMP TriplePlay Initiative, families looking to buy a home in Prince George’s County through the Maryland Mortgage Program were eligible for $10,000 in downpayment and closing cost assistance in a no-interest deferred loan with an additional $10,000 grant if they purchase their home in targeted areas in the county; 0.25 percent reduction in the Maryland Mortgage Program’s already low interest rate and a waiver of the state’s fee on the Maryland HomeCredit, which allows homebuyers to claim a federal income tax credit of up to $2,000 for as long as the loan is outstanding.

MMP TriplePlay was launched in November and “sold out” in less than four months.

Under the extended version of the program, which officials have dubbed the DoublePlay Initiative, eligible homebuyers may still receive the 0.25 percent rate reduction from the Maryland Mortgage Program’s already low interest rates and the fee waiver. In addition, all Maryland Mortgage Program borrowers may be eligible for $5000 in down payment assistance in the form of a no-interest deferred loan.

The Maryland Mortgage Program has been the state’s flagship mortgage purchase program for more than 30 years. Program loans are administered by a network of more than 60 private lending institutions across the state, including about 30 lenders in Prince George’s County. Additional benefits of the program include pre-purchase home buyer education.


For private assistance with Double Play and other Maryland Mortgage Program funding options, contact Info@UrbanLandCompany.com.  We run the area’s most active and consistent free First Time Workshop program that covers all the details on how to use these funds to purchase a home! 

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